Political

The issue of ratification of the Russian-Turkish agreement on the Turkish Stream gas pipeline construction project in the State Duma is scheduled for January 20.

The agreement signed in Istanbul on October 10, 2016 was submitted to the State Duma for ratification by the Russian government on December 19, 2016. “The goal of the agreement is to create a favorable, transparent and stable regulatory base, including tax and customs regime, for design, construction and operation of the gas pipeline system being formed to support Russian gas supplies to Turkey and for transit transportation of Russian gas through it to its neighboring states,” according to accompanying documents.

The Turkish Stream pipeline was announced by the Russian authorities in December 2014 to replace the South Stream pipeline. It was planned that the marine section of Turkish Stream would comprise four lines with the capacity of 15.75 bln cubic meters each. However, the talks on the project were suspended, particularly due to a crisis in the bilateral relations. In August 2016, following the meeting of presidents of the two countries a decision was made to resume the works on the Turkish Stream, set up a work group and create a roadmap.

The Turkish Stream project envisages the construction of a natural gas pipeline via the Black Sea to the European part of Turkey to be further extended to the border with Greece. The seabed section is about 910 kilometers and the mainland section through Turkey is 180 kilometers. Previously the project was estimated at 11.4 bln euro. It is supposed that gas supplies via the first line will be totally aimed for the needs of the growing Turkish market.

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